Major US prime brokers Clear Street and Marex Group Plc are preparing to offer clients access to Kalshi‘s prediction markets, according to a report. Clear Street, valued at over $12 billion, expects its first trade to clear in late March, while Marex plans to follow within months. The move signals accelerating institutional demand to use these markets for hedging and data, despite a lack of regulatory clarity highlighted by top exchange executives.
US prime brokers are racing to provide hedge fund clients with access to event bets on the Kalshi prediction market platform. Executives from Clear Street and Marex Group Plc confirmed their firms expect to open up this access soon.
Clear Street CEO Ed Tilly stated the firm anticipates its first Kalshi trade to clear in late March. Marex global clearing head Thomas Texier noted they plan to follow suit in the coming months.
Texier said they are seeing strong demand from large financial institutions seeking to tap into prediction markets. “Over the last few weeks, we’ve seen very large hedge funds coming to us and saying, ‘Can you give us access to these markets?’” he said.
In a LinkedIn post, Kalshi CEO Tarek Mansour said institutional adoption will greatly accelerate in 2026. He argued prediction markets are becoming a core pillar of the financial ecosystem, with billions flowing through weekly.
However, Clear Street’s CEO emphasized the firm is proceeding with caution amid a regulatory gray area. The industry faces lawsuits from state regulators and questions over sports markets and insider trading.
Earlier this week, top executives from exchanges like Nasdaq and CME called for clearer US rules. Nasdaq CEO Adena Friedman stated that markets thrive with consistent regulation to protect investors.
The Commodities Futures Trading Commission claims primary oversight of the sector. The Securities and Exchange Commission has also indicated it will play a role.
